Mesirow Financial Investment Management Equity Management Increases Stake in Quanta Services, Inc. (PWR)

Mesirow Financial Investment Management Equity Management boosted its position in Quanta Services, Inc. (NYSE:PWR) by 13.8% during the second quarter, Holdings Channel reports. The firm owned 43,770 shares of the construction company’s stock after buying an additional 5,315 shares during the period. Mesirow Financial Investment Management Equity Management’s holdings in Quanta Services were worth $1,441,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its position in Quanta Services by 51.4% in the fourth quarter. Teachers Advisors LLC now owns 548,341 shares of the construction company’s stock worth $19,110,000 after buying an additional 186,047 shares during the period. Morgan Stanley increased its position in Quanta Services by 245.9% in the first quarter. Morgan Stanley now owns 812,832 shares of the construction company’s stock worth $30,164,000 after buying an additional 577,842 shares during the period. Glen Harbor Capital Management LLC increased its position in Quanta Services by 2.8% in the first quarter. Glen Harbor Capital Management LLC now owns 122,668 shares of the construction company’s stock worth $4,552,000 after buying an additional 3,360 shares during the period. Ardevora Asset Management LLP increased its position in Quanta Services by 32.6% in the second quarter. Ardevora Asset Management LLP now owns 1,052,600 shares of the construction company’s stock worth $34,652,000 after buying an additional 258,500 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in Quanta Services by 52.6% in the first quarter. Asset Management One Co. Ltd. now owns 90,170 shares of the construction company’s stock worth $3,347,000 after buying an additional 31,070 shares during the period. Hedge funds and other institutional investors own 89.40% of the company’s stock.

Quanta Services, Inc. (NYSE:PWR) opened at 36.68 on Thursday. Quanta Services, Inc. has a 52-week low of $24.49 and a 52-week high of $38.82. The company’s 50-day moving average price is $33.57 and its 200 day moving average price is $34.76. The stock has a market capitalization of $5.58 billion, a P/E ratio of 25.35 and a beta of 0.84.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.53 by $0.03. Quanta Services had a net margin of 3.21% and a return on equity of 8.36%. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the company posted $0.18 earnings per share. Quanta Services’s revenue for the quarter was up 22.8% compared to the same quarter last year. On average, equities research analysts predict that Quanta Services, Inc. will post $2.03 earnings per share for the current fiscal year.

Quanta Services announced that its board has initiated a stock repurchase program on Thursday, May 25th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the construction company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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A number of equities analysts have recently issued reports on PWR shares. BidaskClub downgraded Quanta Services from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. ValuEngine upgraded Quanta Services from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. TheStreet upgraded Quanta Services from a “c+” rating to a “b-” rating in a research note on Friday, July 7th. Stifel Nicolaus restated a “buy” rating and issued a $45.00 price target on shares of Quanta Services in a research note on Friday, August 4th. Finally, Zacks Investment Research downgraded Quanta Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Quanta Services currently has a consensus rating of “Buy” and a consensus price target of $41.11.

Quanta Services Company Profile

Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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